ZRX is up 38% since Coinbase announced it will list it

Listing a token on Coinbase has undoubtedly had a positive effect on the prices of tokens that get listed. Last week, Coinbase announced that it will list its first ERC20 token ZRX. Following the announcement, the price rose by 21% in one day and is now, nearly a week later, trading 38% higher than prior to the announcement.

ZRX is far from being an isolated case (see table). In fact, all tokens that were listed in 2017 and 2018 rose at least 18% in price in just one day after Coinbase's announcement. None of the tokens fell in price following the announcement - even in the bear market. The highest 1-day effect was Bitcoin Cash whose price soared by 47%. The highest 1-week effect was registered by Litecoin, which rose by nearly 84%.